China moves to unlock sci-tech finance data to spur innovation

BEIJING, July 29 (Xinhua) -- China will bolster the open sharing and integrated use of data in the sci-tech finance sector to better fuel high-level technological self-reliance and channel more efficient financial support to innovative enterprises, according to a joint notice issued on Wednesday by nine government departments, including the People's Bank of China.

The notice unveils the first version of a national catalog for sci-tech finance data development and utilization, covering 26 data indicators across eight major categories, such as enterprise rosters, innovation capability assessments, and enterprise needs. It encourages localities to craft region-specific data utilization lists and build supporting information infrastructure.

Authorized institutions are permitted to use public sci-tech data in a standardized manner, and local governments are urged to provide enterprises with authorized access channels, promote information query services, and support joint modeling initiatives.

Pilot programs for trusted data spaces in sci-tech finance will be rolled out in eligible regions, where corporate cash-flow data will be better exploited and industry research information platforms established. Market-oriented credit reporting agencies are encouraged to develop specialized databases for tech-based firms and diversify their credit product offerings.

Financial institutions will be guided to use these databases to build digital credit profiles for tech companies, develop tailored risk-control and investment models, and design financing products that suit the specific needs of niche industries. They are also encouraged to team up with relevant authorities to analyze capital flows along industrial chains, map out key industry chains, and precisely match financial resources. ■